Posted on: 10th Aug, 2010 09:52 am
have offer on shortsale that bank has extended closing to another 30 days for a total of 150 days. I am 15 days out from the final close date. No offer yet accepted. There is a $1000.00 repair clause on intial contract but buyer agent did not acknowledge any need for repair at initial contract. There is now identified repairs. Agent say they will have to submitt a new documents to the bank acknowledging the repairs.
SOOO How will this influence the transaction - in time line - - - whether it will cause further delays - - - -
SOOO How will this influence the transaction - in time line - - - whether it will cause further delays - - - -
Hi Guest,
If the bank acknowledges the new documents submitted by the agent asap, then it won't take much time to complete the short sale proceedings. You should ask the agent to request the bank to acknowledge the repairs asap. Thus, you won't have to wait for a longer period of time to short sale the property.
Thanks
If the bank acknowledges the new documents submitted by the agent asap, then it won't take much time to complete the short sale proceedings. You should ask the agent to request the bank to acknowledge the repairs asap. Thus, you won't have to wait for a longer period of time to short sale the property.
Thanks